MENA: Saturated Acyclic Hydrocarbons Market 2024

Saturated Acyclic Hydrocarbons Market Size in MENA

The MENA's saturated acyclic hydrocarbons market was finally on the rise to reach $X in 2022, after two years of decline. Overall, consumption enjoyed a prominent increase. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Saturated Acyclic Hydrocarbons Production in MENA

In value terms, saturated acyclic hydrocarbons production shrank slightly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a prominent expansion. The growth pace was the most rapid in 2017 with an increase of 112%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Saturated Acyclic Hydrocarbons Exports

Exports in MENA

Saturated acyclic hydrocarbons exports fell sharply to X tons in 2022, with a decrease of -26.3% compared with the previous year. In general, exports recorded a abrupt curtailment. The growth pace was the most rapid in 2021 when exports increased by 32% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, saturated acyclic hydrocarbons exports fell remarkably to $X in 2022. Overall, exports saw a abrupt slump. The pace of growth was the most pronounced in 2021 with an increase of 64%. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Saudi Arabia represented the key exporting country with an export of about X tons, which recorded 85% of total exports. It was distantly followed by Iran (X tons), mixing up a 12% share of total exports. Israel (X tons) followed a long way behind the leaders.

Saudi Arabia experienced a relatively flat trend pattern with regard to volume of exports of saturated acyclic hydrocarbons. Iran (-12.1%) and Israel (-24.1%) illustrated a downward trend over the same period. Saudi Arabia (+33 p.p.) significantly strengthened its position in terms of the total exports, while Iran and Israel saw its share reduced by -13.6% and -18.6% from 2012 to 2022, respectively.

In value terms, Saudi Arabia ($X) remains the largest saturated acyclic hydrocarbons supplier in MENA, comprising 87% of total exports. The second position in the ranking was held by Iran ($X), with a 7.6% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Saudi Arabia amounted to -1.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Iran (-12.8% per year) and Israel (-21.1% per year).

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, shrinking by -15.7% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 24% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Israel ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+3.9%), while the other leaders experienced a decline in the export price figures.

Saturated Acyclic Hydrocarbons Imports

Imports in MENA

In 2022, overseas purchases of saturated acyclic hydrocarbons were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, imports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2015 when imports increased by 52% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, saturated acyclic hydrocarbons imports shrank to $X in 2022. Total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +13.5% against 2020 indices. The pace of growth was the most pronounced in 2018 when imports increased by 47% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Saudi Arabia (X tons) represented the largest importer of saturated acyclic hydrocarbons, mixing up 53% of total imports. The United Arab Emirates (X tons) held a 27% share (based on physical terms) of total imports, which put it in second place, followed by Turkey (6.7%) and Morocco (5.5%). Tunisia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +35.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported saturated acyclic hydrocarbons in MENA, comprising 60% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 14% share of total imports. It was followed by Turkey, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Saudi Arabia amounted to +8.1%. In the other countries, the average annual rates were as follows: the United Arab Emirates (+23.8% per year) and Turkey (+3.7% per year).

Import Prices by Country

In 2022, the import price in MENA amounted to $X per ton, reducing by -13.6% against the previous year. Overall, the import price continues to indicate a perceptible decline. The pace of growth was the most pronounced in 2021 an increase of 41% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Turkey ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Morocco (+1.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform